FILE PHOTO: Japan Display Inc’s logo is pictured at its headquarters in Tokyo, Japan, August 9, 2016. REUTERS/Kim Kyung-Hoon/File Photo
November 13, 2019
TOKYO (Reuters) – Japan Display reported on Wednesday an 11th consecutive quarterly net loss on sluggish display sales and restructuring costs as the cash-strapped company scrambles to clinch a bailout deal with Apple Inc and other investors.
The liquid crystal display (LCD) maker for smartphones, which gets more than half of its revenue from Apple, posted a net loss of 25.4 billion yen ($233 million) in the July-September quarter, wider than the 7.8 billion loss a year earlier.
Japan Display, money-losing for the past five years due to slowing Apple iPhone sales and the delayed adoption of organic light-emitting diode (OLED) screens, did not give a full-year earnings outlook.
(Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)
